Consumer Confidence

Biggest decline in shop prices since 2006

May shop prices tumbled at the fastest rate of decline since 2006, falling by 2.4% against a 1.7% decrease in April.   This was “largely” driven by a sharp fall in non-food prices, which fell “sharply” by 4.6% in the period, compared to a decline of 3.6% the month prior. This…

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Yes, the trade barriers are coming

I think both Leavers and Remainers probably expected this in the long run – Michael Gove announced yesterday that businesses should “accept” that frictionless trade with the EU will be impossible whatever agreement is finally reached by the deadline of 31 December this year. This is the cost, he says, of making…

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British Airways gets flighty and Starbucks smells the coffee over coronavirus

The business response to the coronavirus situation, which appears to be developing into a serious crisis, continues apace today. British Airways today announced that it was suspending all flights between the UK and Wuhan, the Chinese city where the virus originally broke out. In a statement it said: “We have…

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Spooked markets seem soothed by Iran-US climb-down

When Iran decided to hit back on US military facilities after president Trump ordered the assassination of Iranian general Qasem Soleimani, there was talk of the outbreak of war. NATO countries apparently implored Trump not to go for another attack, fearing that if he did things would escalate beyond control…

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The latest business data is bad news, but the reasons given spell a good omen

This morning there was some bad news for business, but which definitely comes with a silver lining. So, the bad news first: the ‘Flash UK Composite Output Index’ from data firm, Markit, which tracks private sector business activity, found that it shrunk during the month of December. It has dropped…

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Brexit threatens capacity of Welsh veterinary workforce, warns BVA

British Veterinary Association (BVA) resident John Fishwick called for urgent action to guard against a serious shortfall of vets in Wales following Britain’s withdrawal from the European Union. His speech at BVA’s Annual Welsh Dinner on 26 June came amid growing concerns about how Brexit may impact on vets working…

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UK retail sees second worst month on record for in-store sales

Like-for-like (LFL) in-store sales were down by 10.1% in the month of March, making it the second worst figures on record for UK retail. BDO’s High Street Sales Tracker report said the poor sales was largely attributed to the snowy weather. According to the business advisory firm’s records, the only…

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‘Beast from the East’ chills retail sales

Year-on-year sales volumes declined for the first time since October 2017, according to CBI’s latest monthly Distributive Trades Survey. Additionally, sales for the time of year were significantly below normal, and by the greatest extent since April 2013. The volume of orders placed with suppliers, meanwhile, was broadly unchanged. Sales…

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Retail administrations increase in five-year-first

  The number of retailers entering administration increased from 92 in 2016 to 118 in 2017, an increase of 28 percent, according to new analysis from Deloitte. This is the first increase in the last five years, as those administrations with more than ten stores rose from 11 in 2016…

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Fewer closures, more openings for high street retail

There were more high street retail businesses opening and fewer closing in the first half of 2017, according to a report from the Local Data Company. The data, which studied the top 500 British town centres, found that 2,564 stores closed in the first six months of the year whereas…

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